BRK.B | Why Berkshire Is Selling Stocks and Buying Back Its Own Berkshire Hathaway Inc. Class BBATS:BRK.BmoonyptoBerkshire Hathaway reported Q3 revenue of $105.6 billion, up 11% year over year, but operating profit fell 5% to $13.7 billion, mainly due to weaker insurance results 🛡️ Insurance: Underwriting profit dropped 47% to $1.7 billion, with GEICO taking a 45% hit. Investment income also declined 11% to $3.3 billion as interest rates moved lower 🚂 BNSF & Energy: Both divisions delivered stronger results. BNSF's pre-tax profit climbed 19% to $2.3 billion, while Berkshire Hathaway Energy rose 18% to $1.1 billion, helped by better railroad efficiency and stronger utility operations 🏭 Manufacturing & Retail: Pre tax profit increased 13% to $5.3 billion. These businesses, including Pilot and McLane, account for around 61% of Berkshire's total revenue The bigger story, though, is Greg Abel stepping up Berkshire's capital allocation.. The company repurchased $9.6 billion worth of its own shares in Q3, more than double the $4.5 billion spent in Q2. That brings year to date buybacks to $14.4 billion, followed by another roughly $2 billion in October. At the same time, Berkshire pulled back from its aggressive stock purchases in Q2. It bought $2.4 billion in equities but sold $2.8 billion, making it a net seller again. Its reported cash pile reached $377.4 billion, including $20.5 billion in unsettled Treasury purchases, leaving roughly $357 billion in available liquidity Abel is putting more money into buybacks while staying cautious about outside investments. Berkshire's noninsurance businesses are holding up well, but insurance profitability remains under pressure With roughly $357 billion in liquidity, the big question is still where Berkshire can put that money to work without sacrificing returns.